As we start 2019, your accountants will be letting you know what taxes you must pay and the dates by which the payments are due.
If you have not put enough aside to cover the tax liability, or you have had a great year and the liability is higher than expected, you can spread the cost by taking a tax loan over 12 -24 months.
Most tax loans are provided over 12 months. However, some, such as Corporation tax, can be extended further in the right circumstances.
Short term loans are, by their very nature, more expensive. This is because any lender wishes to get a fair return on their loan even over a short period. Therefore, be prepared to pay a higher rate of interest than you are used to.
You can, of course, approach your own bank for assistance. However, mainstream banks are not usually receptive to these approaches, believing that you should have planned for this eventuality and have the funds safely put aside.
We have access to several lenders and we can obtain quotes for you. Samera Finance make no charge to the client for this service.
Further information on tax payments for dentists
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